E-tailer Bonobos to open first flagship store in New York City
Publish Date: March 05, 2015
E-tailer Bonobos is expanding its brick-and-mortar operations in June with the opening of its biggest physical space yet, a 4,000-square-foot flagship store on Fifth Avenue, in New York City. The two-level store will be based on the etailer’s popular Guideshop concept, which give its online customers a chance to handle products in person and consult with sales associates.
“The Bonobos team is thrilled to open our highest profile Guideshop in the heart of one of Manhattan’s most prominent shopping destinations, just blocks from our headquarters,” said Andy Dunn, CEO and founder of Bonobos, in a press release. “We’re excited to introduce our phenomenal brand and revolutionary way of shopping on the world stage and to meet our guy where he works, lives, and plays downtown,” added Dunn.
“This is an amazing branding opportunity for Bonobos,” said Justin Fantasia, an associate at brokerage firm RKF, who represents the tenant and negotiated the 10-year lease on their behalf. “With the Flatiron District’s strong residential demographics and its booming start-up and technology workforce, 95 Fifth Avenue presented an opportunity that simply could not be passed up. It allows the brand to plant a flag front and center in a market brimming with their core customer.”
Bonobos is a pioneer of what it calls the online-to-offline, no-inventory model, testing the Guideshop concept in 2011 at Bonobos’ headquarters in the Flatiron District in New York City; sales per square foot were five times the industry average, a result that Bonobos attributes to the high-touch service model. Following its success and official launch in Spring 2012, Bonobos opened its first stand-alone Boston location in May 2012.
Bonobos Guideshop Fifth Avenue will be the brand’s seventeenth location nationwide and fourth New York City location, following the expected openings of its Guideshops in Newport Beach, CA and at Brookfield Place, in New York City, in March 2015. Bonobos currently has Guideshops in Atlanta; Austin, Texas; two in Bethesda, Md.; Boston; Chicago; Dallas; Washington, D.C.; Los Angeles; two in New York City (Flatiron and SoHo); San Diego; San Francisco; and San Jose, Calif., with plans to introduce the concept in additional cities by the end of the year. Customers will have a personal experience whether they walk-in or make an appointment in advance.